AREA FOCUS - PALAM VIHAR REALTY SURGING STRONGLY

Created on 03.08.2015 00:56:22

Palam Vihar is roughly located four kilometres from the Na tional Highway. It is one of the most planned residential areas of Gurgaon. The area is well developed and boasts of good infrastructure for the residents. Easy accessibility from Delhi, proximity with the international airport and the railway station allure the residents to look towards this area for staying.

A prime location in Gurgaon, this area provides residence to many students and people who are working in Gurgaon. A huge number of people who work in Gurgaon prefer to live in Palam Vihar. The residential market comprises of varied options. These include developments by HUDA such as group housing developments, residential floors, villas and plots. It also has builder projects. The area has welldeveloped physical and social infrastructure.

Facilities like market, shopping malls, health clubs and parks are available in the vicinity, which make for a convenient and comfortable living for the residents of the locality. A shopping plaza, along with two other locations for shopping for daily requirements, is the popular commercial hub of the area.

Palam Vihar is divided into blocks starting from A till K (C block is further divided into C1 and C2). This area has standard plot sizes of 66 sq yd costing somewhere around `65 lakh; 100 sq yd costing between `90 and `95 lakh, 173 sq yd, which is one the most preferred plot sizes here, costs between `75,000 per sq yd and `95,000 per sq yd.

On the other hand, the second most preferred plot size which is 270 sq yd costs between `80,00090,000 per sq yd. Other than this, there are plot sizes measuring 360 sq yd, 520 sq yd, 800 sq yd and 1000 sq yd. “Most of the builders too, prefer plot sizes measuring 173 sq yd and 270 sq yd, due to the fact that they don't get the registry for any plot size less 180 sq yd from HUDA,“ informs Manish Banger, a property dealer operating out of Palam Vihar.

“Palam Vihar is one of the best places to live in Gurgaon. It has a lot of green spaces and big parks, wide roads and low traffic, and is hence a quiet and peaceful area. It is a pure residential area unlike the other parts of Gurgaon that have a mix of commercial and residential spaces. Another prominent point about this area is that it is extremely posh and is easily accessible from Delhi and Central Gurgaon. Moreover, there is no parking problem, there is 24x7 security available,“ says Shikha, a resident of Palam Vihar.

Palam Vihar is very close to IFFCO Chowk Metro Station which is at a distance of less than four kilometres and the new under-construction expressway which would be passing through Palam Vihar.“Once it will be completed, com muting will become easier and it is expected that the area will further grow,“ shares Swati, another resident of the area.

While concluding, Banger says, “Once the expressway will be completed and Metro will reach Palam Vihar, the property prices in the area will see a rise of 15 to 20 per cent.“